This $20 million renovation and retrofitting project forms the centerpiece of a multi-faceted academic, entrepreneurship and housing initiative. A former office building was converted into a 260,000 SF mixed-used resource for Alvernia University and downtown Reading. CollegeTowne includes a business trading lab, classrooms, labs, esports facilities, student housing, a new engineering program, and a business incubator. Phase 1 of CollegeTowne opened in fall 2021.
Photo Credit: Nathan Cox Photography
The ground floor redesign features a community gathering place and lounge area, as well as space for the university’s business and communication programs.
It also houses the O’Pake Institute for Economic Development and Entrepreneurship’s student-powered business incubator.
The building façade respectfully honors the City of Reading Historic District Ordinance remembering significant architectural features of the original structure while creating a new entry beacon for CollegeTowne.
As a mixed-use center, the commercial Penn Street presence is strengthened with community tenant partners that support the developments’ mission while the residential components front the more residential Court Street façade. The programming of the initial phase allows for future growth in residential units, academic programs, and community engagement.
CollegeTowne is a strategy and model for championing economic redevelopment.
Described as a “landmark redevelopment project,” CollegeTowne is partially funded through a $4 million grant from the Pennsylvania Redevelopment Assistance Capital Program grant. Through partnerships and collaborations with the City of Reading and local businesses and organizations, Alvernia serves as a strategic enabler for strengthening the local economy downtown.
